Private Sector Development in Ghana: What Do We Know?

37 Pages Posted: 30 Apr 2020

Date Written: February 20, 2020


The development of the private sector has been recognized as the means to accelerate the rapid industrialization desired by developing countries. In this light, Ghana embarked on the Structural Adjustment Programme in the late 1980s which gave prominence to the private sector as an engine of growth in the country. Since then, other policies and programmes have been instituted by successive governments to make the private sector flourish and drive the country’s economic prosperity. Against this backdrop, this paper aims to bring to light the policies that have been geared toward the private sector in Ghana over the years as well as the evolution of development thinking on private sector development. The paper also highlights the contributions of the private sector to Ghana’s development and the challenges that stifle the growth of the sector. This paper is relevant for policy makers as it draws attention to both what has been done and what still needs to be done to make the private sector in Ghana viable.

Keywords: Private sector, Ghana, privatization, structural adjustment, neoliberalism

JEL Classification: L33, N87, O29, Z18

Suggested Citation

Hoedoafia, Mabel, Private Sector Development in Ghana: What Do We Know? (February 20, 2020). Available at SSRN: or

Mabel Hoedoafia (Contact Author)

Ruhr University Bochum ( email )

Bochum, 44801

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